Hi Ani!
Here's the Booth 1st year cost as an example:
2012 - 13 Estimated Cost of Attendance
Three Quarters (nine months)Tuition 10 Courses, $56,000
Student Life Fee $931
Health Insurance $2,757
Administrative Service Fee $1,800 (first year only)
Lifetime Credentials Fee $45 (a one-time fee charged in fall of the first year)
Books $2,100
Rent and Utilities $13,500 ($1,500 per month)
Food $5,400 ($600 per month)
Personal $3,000
Transportation $1,350
Computer Allowance $1,800 (first year only)
Total $88,683The scholarship could cover up to 100% of the classes costs and in some cases living expenses if you live on campus (but rarely). The banks will provide you with a loan of up to the total official costs.
But you will start repaying it only a year after graduation, so you'll have time to save up a bit. And don't forget that your summer internship will earn you roughly $2 000/week.
So in reply to your question - if you do manage to get a full scholarship, you will still have to provide for your living and personal expenses.
Please correct me if I'm wrong...